6,594 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Purchased by Paloma Partners Management Co

Paloma Partners Management Co acquired a new stake in Insteel Industries, Inc. (NASDAQ:IIIN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,594 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IIIN. Isthmus Partners LLC raised its stake in Insteel Industries by 6.8% in the 2nd quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 6,665 shares during the period. nVerses Capital LLC acquired a new position in shares of Insteel Industries in the second quarter valued at $121,000. Quantbot Technologies LP bought a new position in shares of Insteel Industries in the third quarter valued at about $121,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Insteel Industries by 100.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock worth $175,000 after buying an additional 2,812 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Insteel Industries by 8.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock worth $183,000 after buying an additional 434 shares during the period. Institutional investors own 83.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

Insteel Industries Trading Down 0.3 %

Shares of NASDAQ IIIN opened at $29.50 on Friday. The firm has a market cap of $573.78 million, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 2.23 and a beta of 1.11. The business’s 50 day moving average is $29.26 and its 200-day moving average is $30.90. Insteel Industries, Inc. has a 1-year low of $26.74 and a 1-year high of $39.38.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $140.40 million. Analysts forecast that Insteel Industries, Inc. will post 1.11 EPS for the current year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Insteel Industries’s dividend payout ratio (DPR) is 12.12%.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.